ChainCatcher news, according to Bitcoin.com, Argentina has recently released relevant regulations that will apply to previously approved legislative proposals affecting the inclusion of cryptocurrencies and other undeclared assets into the country's tax system. Only taxpayers holding assets in registered VASPs can enjoy these benefits. These taxpayers can be exempt from taxes on up to $100,000 of cryptocurrency.

According to ChainCatcher news, as reported by Coinpost, the National Tax Agency of Japan has issued a notification regarding the legal interpretation of partial amendments to corporate tax rules. The notification explains that self-issued crypto assets by enterprises can be excluded from market value valuation under certain conditions, making it easier for cryptocurrency-related companies to operate in Japan. This revision has been incorporated into the ruling party's tax reform charter for the fiscal year 5 of Reiwa.According to previous legal provisions, if a company holds virtual currency, its unrealized gains will be taxed at the end of the period. This regulation has long been criticized for "burdening companies and hindering innovation in virtual currencies and blockchain." Due to this law, some companies have chosen to operate overseas. (Source link)

ChainCatcher News, U.S. Representatives Brad Sherman and Stephen Lynch urge the IRS and the Treasury Department to formulate cryptocurrency tax rules as soon as possible. Brad Sherman believes that for many years, the cryptocurrency industry has been a major source of tax evasion and a significant component of the national tax revenue shortfall. (Source link)

ChainCatcher news, according to CoinDesk, Indian Finance Minister Nirmala Sitharaman did not mention cryptocurrencies, virtual digital assets, or central bank digital currencies or digital rupees when announcing the national budget adopting the latest tax rules. This move may indicate that India will continue to maintain the 30% profit tax and the 1% withholding tax on all transactions established in 2022 in 2023. (Source link)